Concentra Group Holdings Parent (NYSE:CON) Given New $37.00 Price Target at Truist Financial

Concentra Group Holdings Parent (NYSE:CON) had its price objective raised by analysts at Truist Financial from $31.00 to $37.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s price objective suggests a potential upside of 18.62% from the stock’s previous close.

CON has been the topic of a number of other research reports. Weiss Ratings upgraded Concentra Group Holdings Parent from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 11th. William Blair assumed coverage on Concentra Group Holdings Parent in a research note on Wednesday, July 1st. They issued an “outperform” rating for the company. Finally, The Goldman Sachs Group assumed coverage on Concentra Group Holdings Parent in a research note on Friday, June 5th. They issued a “buy” rating and a $30.00 price target on the stock. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.40.

Concentra Group Holdings Parent Trading Down 0.6%

NYSE:CON opened at $31.19 on Tuesday. The company has a 50-day moving average price of $27.34 and a 200-day moving average price of $23.92. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of 22.48, a P/E/G ratio of 1.44 and a beta of 0.64. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 3.62. Concentra Group Holdings Parent has a 12 month low of $18.55 and a 12 month high of $32.35.

Concentra Group Holdings Parent (NYSE:CON) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. Concentra Group Holdings Parent had a net margin of 7.97% and a return on equity of 47.14%. The company had revenue of $569.55 million for the quarter, compared to analysts’ expectations of $553.53 million. During the same quarter in the previous year, the company earned $0.32 earnings per share. Concentra Group Holdings Parent’s quarterly revenue was up 13.7% on a year-over-year basis. Equities analysts predict that Concentra Group Holdings Parent will post 1.52 EPS for the current year.

Insider Transactions at Concentra Group Holdings Parent

In other news, Director Robert A. Ortenzio sold 130,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $30.50, for a total value of $3,965,000.00. Following the transaction, the director owned 633,455 shares in the company, valued at approximately $19,320,377.50. This represents a 17.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 390,000 shares of company stock valued at $10,465,000 over the last three months. 8.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Concentra Group Holdings Parent

Several institutional investors and hedge funds have recently made changes to their positions in CON. State Street Corp increased its position in shares of Concentra Group Holdings Parent by 0.5% during the fourth quarter. State Street Corp now owns 4,446,551 shares of the company’s stock valued at $87,508,000 after acquiring an additional 22,442 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Concentra Group Holdings Parent by 13.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,874,283 shares of the company’s stock valued at $81,089,000 after acquiring an additional 445,449 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Concentra Group Holdings Parent by 4.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,107,254 shares of the company’s stock valued at $66,645,000 after acquiring an additional 144,379 shares in the last quarter. Geode Capital Management LLC boosted its stake in Concentra Group Holdings Parent by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 2,851,717 shares of the company’s stock valued at $56,130,000 after purchasing an additional 19,122 shares during the last quarter. Finally, Woodline Partners LP boosted its stake in Concentra Group Holdings Parent by 142.7% during the 3rd quarter. Woodline Partners LP now owns 2,746,505 shares of the company’s stock valued at $57,484,000 after purchasing an additional 1,614,988 shares during the last quarter.

About Concentra Group Holdings Parent

Concentra Group Holdings Parent (NYSE:CON) is a Canada-based financial services holding company that specializes in serving Canadian credit unions and their members. Through its operating subsidiaries, the group provides wholesale funding, lending solutions and investment management services tailored to the unique needs of cooperative financial institutions. Concentra’s broad suite of offerings includes trust and custody services, mortgage investment products and equipment financing, all designed to support credit-union growth and stability.

In addition to wholesale funding and lending, Concentra Group Holdings Parent distributes life and general insurance products through affiliated insurance brokers and credit-union channels.